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Rena Murshud

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The Institute of Development and Diplomacy at ADA University conducted training on strategic leadership for Rabitabank colleagues, Azernews reports.

The training was conducted by the Executive Vice-Rector of ADA University, Director of the Institute of Development and Diplomacy Fariz Ismailzade, and President of the ADA University Foundation (Azerbaijan) Natig Hajiyev.

The training, which was attended by 20 employees of Rabitabank, began with a session on the development and implementation of strategy in organizations.

The session, chaired by Fariz Ismailzade, discussed various aspects of strategic leadership, creating and implementing strategies in organizations, as well as the importance of strategic vision in Azerbaijani business. Fariz Ismailzade noted that strategy is not just a plan, but a road map that leads the organization to the desired future state. A strong strategic vision helps businesses focus on their goals and make decisions accordingly.

During the session, Fariz Ismailzade spoke about the “SWOT” (Strengths, Weaknesses, Opportunities, Threats) analysis method used in strategy formation.

The second part of the training continued with a lesson conducted by Natig Hajiyev. He touched upon such methods of analysis as “PESTEL” (political, economic, social, technological, environmental, and legal analysis). In addition, he emphasized the importance of understanding the situation and developing a clear plan of action during difficult times. During the training, N.Hajiyev invited the participants to build a business model in accordance with the company’s strategy.

A practical exercise was then presented to help participants understand the strategy implementation framework. One of the main topics covered during the training was the consistency of work with strategy and the design thinking approach.

The training concluded with a mutual discussion and a question and answer session.

It should be noted that the Institute of Development and Diplomacy regularly conducts training to train specialists in the public and private sectors, as well as in the academic field, and strengthen the capacity of personnel.

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Rena Murshud is AzerNews’ staff journalist, follow her on Twitter: @RenaTagiyeva

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